May 23, 2023-MHM European Perspective

Market Overview

Spot gold weakened slightly during the Asian session on Tuesday (May 23), once losing the 1960 mark, which was a new low for the past two trading days. Because U.S. President Joe Biden and House Speaker John McCarthy said after Monday's meeting that they had a “productive” meeting, the market's fears of a U.S. debt default cooled, depressing the safe-haven demand for gold. In addition, a number of Federal Reserve officials overnight hawkish speech, so that the Federal Reserve rate hike in June is expected to pick up, but also on the gold price suppression obvious.

U.S. crude oil is shaking slightly higher and is currently trading near $72.15 per barrel. Investors expect seasonal growth in gasoline demand and production cuts by OPEC+ producers will lead to a tighter market; rising market optimism that a deal will be reached in the U.S. debt ceiling negotiations have combined to support oil prices. However, overnight the Federal Reserve officials again issued a hawkish speech, the market on the Federal Reserve rate hike in June is expected to pick up, so that the oil price gains are limited.

This trading day needs to focus on API crude oil inventory series data, PMI data for May in Europe and the US. Watch out for a speech by Dallas Fed President Logan and further news on the US debt ceiling negotiations. Watch out for market expectations for the Fed meeting minutes to be released on Wednesday.

MHMarkets strategy is only for reference and not for investment advice. Please carefully read the statement at the end of the text. The following strategy will be updated at 15:00 on May 23, Beijing time.

Intraday   Oscillation Range: 1929-1937-1951-1978-1985-1998-2007

Overall   Oscillation Range: 1730-1756-1780-1801-1817-1833-1856-1873-1889-1903-1911-1929-1937-1951-1978-1985-1998-2007-2016-2033-2046-2057-2066-2077-2089-2097-2100

In   the subsequent period of spot gold, 1929-1937-1951-1978-1985-1998-2007 can be   operated as the bull and bear range; High throw low suction in the range,   chase up and kill down outside the range!

Note: The above strategy was updated at 15:00 on May 23.   This policy is a daytime policy. Please pay attention to the policy release   time.

Intraday Oscillation Range: 21.5-22.3-23.1-23.9-24.5

Overall Oscillation Range: 19.7-20.1-20.6-21.5-22.3-23.1-23.9-24.5-25.3-26.1-26.6-27.3

In the subsequent period of spot silver,   21.5-22.3-23.1-23.9-24.5 can be operated as the bull and bear range. High   throw and low suction in the range, chase up and kill down outside the range!

Note: The above strategy was updated at   15:00 on May 23. This policy is a daytime policy. Please pay attention to the   policy release time.

Intraday Oscillation Range:   67.3-68.9-70.1-71.2-72.3-73.1-73.8-75.1-77.9

Overall Oscillation Range: 62.1-63.7-64.5-65.8-66.9-67.3-68.9-70.1-71.2-72.3-73.1-73.8-75.1-77.9-78.5-79.9-80.7-82.3-83.5-85.3-87.3-89.1

In the subsequent period of Crude Oil,   67.3-68.9-70.1-71.2-72.3-73.1-73.8-75.1-77.9

can be operated as the bull and bear range.   High throw and low suction in the range, chase up and kill down outside the   range!

Note: The above strategy was updated at   15:00 on May 23. This policy is a daytime policy. Please pay attention to the   policy release time.

Intraday   Oscillation Range: 1.0570-1.0690-1.0755-1.0830-1.0950

Overall   Oscillation Range: 1.0290-1.0360-1.0460-1.0570-1.0690-1.0755-1.0830-1.0950-1.1157-1.1220-1.1303

In the subsequent period of EURUSD,   1.0570-1.0690-1.0755-1.0830-1.0950 can be operated as the bull and bear   range. High throw and low suction in the range, chase up and kill down outside   the range!

Note: The above strategy was updated at 15:00 on May   23. This policy is a daytime policy. Please pay attention to the policy   release time.

Intraday   Oscillation Range: 1.2250-1.2375-1.2400-1.2470-1.2550

Overall   Oscillation Range: 1.1610-1.1830-1.1920-1.2030-1.2135-1.2250-1.2375-1.2400-1.2470-1.2550-1.27000

In the subsequent period of GBPUSD,   1.2250-1.2375-1.2400-1.2470-1.2550 can be operated as the bull and bear   range. High throw and low suction in the range, chase up and kill down   outside the range!

Note: The above strategy was updated at   15:00 on May 23. This policy is a daytime policy. Please pay attention to the   policy release time.